PPP Loan Data — Joslin Construction Texas, LLC, Kingwood, TX
Joslin Construction Texas, LLC is a limited liability company (LLC) located at 2218 Northpark Dr Suite 200 in Kingwood, Texas that received a Coronavirus-related PPP loan from the SBA of $3,963,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Third Coast Bank SSB
Joslin Construction Texas, LLC in Kingwood, TX received a Paycheck Protection Loan of $3.96M through Third Coast Bank SSB, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Joslin Construction Texas, LLC's 2019 payroll expenses are estimated to be at least $19.03M.
Based on their reported 308 jobs retained, this equals an estimated average yearly compensation of $61,774 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joslin Construction Texas, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,963,800
Business Information - Joslin Construction Texas, LLC in Kingwood, TX
2218 Northpark Dr Suite 200
Kingwood, TX 77339
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kingwood
In the Kingwood area, 4 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 308) and received an average PPP loan of $1,025,684 (compared to this company's $3.96M).
Similar Nearby Businesses Who Received PPP Funding:
Explosive Professionals, Inc
Industry PPP Comparison Statistics
Nationwide, 30,777 businesses in the "Site Preparation Contractors" industry received a total of $4.3B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 96% lower than Joslin Construction Texas, LLC's reported 308 employees, and received an average PPP loan of $139,838, 96% lower than this company's loan of $3.96M.
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Footnotes & Information
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